If the GDP gap is -$3.5 trillion, then
A. workers are employed overtime.
B. the economy is experiencing a boom.
C. the economy is in a recession.
D. cyclical unemployment is negative.
Answer: C
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A futures contract is an agreement to buy a commodity at a specific future date, at a price set today.
Answer the following statement true (T) or false (F)
A company that rewards its salespeople based on the number of sales made can expect
a. Higher sales prices b. Lower sales prices c. No sales d. All of the above
A credit in the U.S. balance of payments occurs when
a. U.S. companies sell merchandise abroad. b. foreign companies sell merchandise to U.S. consumers. c. U.S. consumers send money to foreign companies. d. immigrants to the United States send presents of money back to their families in their native countries.
Which of the following is true under unregulated monopoly?
a. Monopoly results in more output than under pure competition. b. Monopoly results in a more efficient allocation of resources than competition. c. Monopoly expands the choices available to consumers. d. Monopoly results in lower output and higher prices than competition.